DSI PJSC awarded AED 1 billion worth of contracts in Q1

DSI Water & Power Subsidiary Awarded Entire Utilities Project in Abu Dhabi

[Dubai, UAE, March 22 2010] – Drake & Scull Water and Power (DSWP), a Drake & Scull International PJSC (DSI) subsidiary has announced that it has been awarded the entire utilities development works at the Residential Compound located in the prestigious Khalifa A City, Abu Dhabi.

Earlier this year, DSWP was awarded the district cooling works at the same compound, and it will now begin relevant infrastructure works that include sewer lines, irrigation, telecommunications services, fire fighting, sub stations, and all related civil works such as roads and paving.

“This contract win marks the eighth for DSI in 2010, bringing the total value of the projects awarded to date to AED 1 billion.  Reaching such a milestone so early in the year has exceeded our expectations,” said Khaldoun Tabari, CEO and Vice Chairman of DSI, “These results are a testament to our progressive growth strategy and such achievements assure us that we are on the right path with our plans for 2010”.

DSWP has its headquarters based in the UAE, and has undertaken projects across the MENA region in countries such as Sudan, Bahrain and Saudi Arabia.  Their engineering specialities include district cooling, water, wastewater and sludge treatment, telecommunications and power infrastructure, and oil and gas infrastructure.

Tawfiq Abu Soud, Executive Director of DSWP commented “One of the motivating factors for us in deciding to form a business stream dedicated to managing and controlling Infrastructure, Water and Power (IWP) works was the surety that we would continuously have a demand in the market to cater to – this has indeed been the case till now due to the non diminishing demand for water and power, which are the basic elements needed in any community.”

“DSWP has built up a considerable technical and commercial solutions background in this market, and we seek to invest in developing our resource capabilities to ensure that we are able to offer world class solutions to our clients”, continued Abu Soud.    

DSI has developed into a regional integrated player in the engineering field by adding diversified projects to their portfolio, allowing them to cater to multiple client needs, while positioning themselves for unprecedented growth and promising exceptional returns for its shareholders.

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About Drake & Scull International PJSC

Drake & Scull International PJSC (DSI) is a regional market leader delivering world class quality projects through integrated design, engineering and construction disciplines of Mechanical, Electrical and Plumbing (MEP), Civil Contracting, and Water, Power and Infrastructure, through Innovation, People and Passion.  DSI established its first office in the region in Abu Dhabi in 1966, and it has since expanded its operations to include offices in Dubai, Jordan, Libya and Thailand with projects in UAE, Saudi Arabia, Sudan and Thailand.

In 2009, DSI PJSC expanded its operations by acquiring two companies, in line with the company’s growth strategy: ‘Passavant-Roediger’, a German global developer of wastewater, water and sludge treatment technologies with a presence in 13 countries across Europe, MENA and Asia with over 5,000 installations, and Kuwait-based ‘Drake & Scull International for Electrical Contracting’, a prominent player in Mechanical, Electrical & Plumbing (MEP) contracting in Kuwait.

In 2010, DSI PJSC’s expansion efforts continued with the establishment of two new subsidiaries: ‘Drake & Scull Water and Power L.L.C’ (DSWP), which was established to manage and control all of DSI PJSC’s existing and future Infrastructure, Water & Power (IWP) projects across the MENA region, and ‘Drake & Scull Construction L.L.C’, which was established to manage and control the DSI PJSC’s regional civil construction projects outside of Dubai and Abu Dhabi.

For further information, please contact:

Drake & Scull International PJSC                                             

Mariana Missakian                                                                         

Corporate Communications Manager                                    

T: +971 4 8112300                                                                            

E: m.missakian@drake-scull.ae                                                 

OR

Cicero & Bernay Public Relations

Tariq Al-Sharabi

Account Director

M: +971 50 626 5535

T: + 971 4 334 2966

F: + 971 4 334 2977

E: tariq@cbpr.ae